Update: Alvotech Shares Rise After FDA Accepts Biologics License Application for AVT80

MT newswire2026/08/31 18:47

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02:47 PM EDT, 08/31/2026 (MT Newswires) -- (Updates to add share movement in the headline and the first paragraph.) Alvotech's (ALVO) shares rose nearly 5% in Monday trading after the company said that its biologics license application for AVT80 as a proposed interchangeable biosimilar to Entyvio was accepted for review by the US Food and Drug Administration. Entyvio is approved as a treatment for adults with moderately to severely active ulcerative colitis and Crohn's disease, according to the statement. The application is backed by data that demonstrate the biosimilarity between AVT80 and Entyvio. AVT80 is under a partnership between Alvotech and Teva Pharmaceutical Industries (TEVA), with Alvotech in charge of development and manufacturing and Teva responsible for commercialization, according to the statement. Price: 5.19, Change: +0.24, Percent Change: +4.85

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The U.S. Energy Information Administration (EIA) has raised its forecast for average Brent crude oil prices in 2026 and 2027 to $97 and $86, respectively, reflecting pressures from global inventory declines, Middle East supply disruptions, and rising transportation costs. As oil production in the Middle East gradually recovers and global inventories rebound from low levels, the EIA expects the average spot price of Brent crude to fall to $87 per barrel in the second quarter of 2027, and further decline to $77 per barrel by the fourth quarter.

华尔街见闻•2026/11/10 18:41